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Jan 29, 2013
01/13
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this with the economy needs right now. here to break it down is john ulzheimer, president of consumer education is more credit. thank you for joining us. i just want to make sure i understand, this is somewhere between one and 4% fees that normally when you swipe your credit-card it is the margin that has to pay that to the credit-card issuer for the privilege of using a credit card, and a lot of times when you're in a taxi and they try to encourage you to use cash or other places is because they don't want to pay the fee. some balance the telling you used as they pass it on to you. is that right? >> this is the key theme, and merchants are still going to be charged that 1-4% interchange as white feet, but now in many instances they will be able the subsidize the cost of the fee by just turning around and charging the consumer when they sweat a certain credit card and uncertain states. melissa: there are rules around this. ten states cannot do this. new york is one of them. i'm sure we have a list of the of the once. they
this with the economy needs right now. here to break it down is john ulzheimer, president of consumer education is more credit. thank you for joining us. i just want to make sure i understand, this is somewhere between one and 4% fees that normally when you swipe your credit-card it is the margin that has to pay that to the credit-card issuer for the privilege of using a credit card, and a lot of times when you're in a taxi and they try to encourage you to use cash or other places is because...
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Jan 31, 2013
01/13
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FBC
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and as the economy grew, and as the economy grew, the government shrank as a share. melissa: yee. >> that's where we have to get back to. simon, you're a clinton guy. is this true? do you want to go back to the clinton days? does that mean the smaller government. >> go back to your days, simon. let's go right back to your days, simon. i'm ready right now. >> the two biggest drivers of growth of government spend having been defense and medicare. i think we, if we want to get spending under control, we're going to have to tackle health care costs, which is what barack obama said in his inaugural speech last week and we have to continue bring down defense. if we can do that and raise a little bit of revenue i think we can make significant progress on getting debt under control. melissa: steve, last word. real quick. we don't have time. >> of course health care entitlements are the big problem. simon why did we create a new trillion dollar health care entitlement? that didn't make a lot of sense. we can't afford it. when you talk about negatives for the economy i think o
and as the economy grew, and as the economy grew, the government shrank as a share. melissa: yee. >> that's where we have to get back to. simon, you're a clinton guy. is this true? do you want to go back to the clinton days? does that mean the smaller government. >> go back to your days, simon. let's go right back to your days, simon. i'm ready right now. >> the two biggest drivers of growth of government spend having been defense and medicare. i think we, if we want to get...
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i'm encouraged by what i'm seeing by that side of the economy. melissa: when you hear there's, you know, one of the things that's helping in the economy are jobs in the energy sector, are you worried that might slow down? >> why would it sell down? melissa: because of more regulation, you know, the president has said he's going to focus on climate change, and when i hear something like that, that means cracking down on fracking and shale which is a booming industry in the country now, and environmentalists don't like. >> well, first of all, very little seems to happen in washington so i wouldn't worry too much -- melissa: that's true. >> about anything actually happening on that front. you know, i think even immigration, which seemed to be a slam dunk, is starting to look like it's becoming pretty difficult getting any kind of reform plan together so, look, i don't think the president -- i say this all the time, and people roll their eyes who don't like the president, but i don't think he's invested in destroying the economy. i think there is a b
i'm encouraged by what i'm seeing by that side of the economy. melissa: when you hear there's, you know, one of the things that's helping in the economy are jobs in the energy sector, are you worried that might slow down? >> why would it sell down? melissa: because of more regulation, you know, the president has said he's going to focus on climate change, and when i hear something like that, that means cracking down on fracking and shale which is a booming industry in the country now, and...
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Jan 30, 2013
01/13
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WETA
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economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economiste eecxpd. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy tatement today that it continues to see "downside risks" to the economy. unemployment is still "elevated". but household and business spending advanced. >> susie: darren gersh begins our coverage with that weak reading on the economy. >> reporter: last quarter, defense spending fell off the fiscal cliff. as lawmakers bickered, manufacturers who make things for the pentagon cut back production sharply-- defense spending fell 22% in the latest g.d.p. report, tipping the economy into the red. >> certainly manufacturers are pulling back and i think this is a bit of a wake up call that these cuts are real and that they have real effects on the econo
economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economiste eecxpd. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy tatement today that it continues to see "downside risks" to the economy. unemployment is still "elevated". but household...
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Jan 31, 2013
01/13
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KQED
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and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top destination for several years now. i think that's a reflection of the growth of not only governmental activity in washington, but it's defense contractors, and folks who are there to protect the interests of their company. >> reporter: oregon, nevada, north carolina, and south carolina are also popular places to move. on the other hand, states like new jersey, illinois, west virginia, new york, and new mexico had an exodus of workers. many of those departures are rooted in lack of jobs, high taxes, and expensive housing. economists are pleased to see a pick-up in moving, because it reflects greater job opportunities
and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top...
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Jan 31, 2013
01/13
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KPIX
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economy you're ever going to see. scott? >> pelley: anthony, you mentioned that federal spending, government spending, had dropped. how much does that have to do with this contraction? >> reporter: well, it's a huge factor, scott. essentially, it wiped out a lot of private sector gains. and, of course, we're going to see congress debating more cuts in the coming months, so that could put more pressure on the economy. but the private sector continues to show improving strength. >> pelley: anthony mason at the port of new orleans thanks, anthony. overseas, israeli jets attack inside syria today. the syrians claim the target was a military research facility but our david martin at the pentagon tells us that israel hit a convoy believed to be carrying weapons to hezbollah, the militant group based in lebanon. syria is in the middle of a ruinous civil war. israel and the u.s. are worried that syrian arms, including chemical weapons, could wind up in the hands of terrorists. we have new information on the problems with boeing's re
economy you're ever going to see. scott? >> pelley: anthony, you mentioned that federal spending, government spending, had dropped. how much does that have to do with this contraction? >> reporter: well, it's a huge factor, scott. essentially, it wiped out a lot of private sector gains. and, of course, we're going to see congress debating more cuts in the coming months, so that could put more pressure on the economy. but the private sector continues to show improving strength....
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Jan 30, 2013
01/13
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would you say this is the economy on the verge of ooh recession or an economy that's chugging along and not doing too badly? >> you'd say the latter. not doing too badly and it is chucking along. >> let's call up the chart we just had up and show you how we got to negative. do we have it? there it is. there you go. 1.52. all these numbers here add up to 0.14. this is the contribution of gdp from the critical mack rowe sectors of the economy. consumers add 1.5% to gdp. business. government taking off 1.3. this was the worst die klein in national defense spending since 1972. okay? what's going on here? really there's an interesting side note here which is why the street can't do a better job and i mean the forecasters figuring out what's going to happen with defensemen. there were some guys who understood it. the guys who do the bottoms-up stuff seem to have done a better job. >> let me ask you this. will the fed be as dismissive so to speak as the numbers today as the market appears to be? you know what i mean. the market doesn't seem to care about this negative print. >> can i just ask
would you say this is the economy on the verge of ooh recession or an economy that's chugging along and not doing too badly? >> you'd say the latter. not doing too badly and it is chucking along. >> let's call up the chart we just had up and show you how we got to negative. do we have it? there it is. there you go. 1.52. all these numbers here add up to 0.14. this is the contribution of gdp from the critical mack rowe sectors of the economy. consumers add 1.5% to gdp. business....
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Jan 31, 2013
01/13
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LINKTV
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economy has gone into reverse, shrinking 1%. it is the first contraction since the financial crisis started. >> congress was sworn to come to a deal. the row over the fiscal cliff hit business confidence. analysts on wall street were expecting growth of 1%. the symbolism is huge. >> when people see a negative number, you worry if the economy is going into recession. when people look at the details, they see that under the surface, this was not such a bad report. >> there was a cut in government spending, particularly in the sense. consumer, and hence -- there was a cut in government spending, particularly in defense. the fiscal cliff has not been sorted, only put off for a few weeks. there is no sign of a deal between republicans and democrats. >> we need to look seriously at what is done with the government directly and indirectly. we will see some real budget reform take place. we might have a better economy in the future. >> the u.s. has lost its triple aaa credit rating. spending cuts and tax rises in the coming weeks. analy
economy has gone into reverse, shrinking 1%. it is the first contraction since the financial crisis started. >> congress was sworn to come to a deal. the row over the fiscal cliff hit business confidence. analysts on wall street were expecting growth of 1%. the symbolism is huge. >> when people see a negative number, you worry if the economy is going into recession. when people look at the details, they see that under the surface, this was not such a bad report. >> there was a...
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Jan 31, 2013
01/13
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KICU
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the economy's surprising downturn in the 4th quarter, and why traders are not overly concerned. in today's cover story, name changer at "blackberry." will the corporate makeover help to turn around the company? bulls and bears are at odds over the dow's chances of heading above the critical 14,000 level. plus, the co-ceo of whole foods dishes about hot corporate topics. and, can zombies bring new life to the box office? first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. i'm angela miles. it's thursday, january 31st, the final trading day of the month. in today's first look: stocks pull back. the dow toned down its march to 14,000. traders and investors took money off the table as gdp came in weaker than expected for the 4th quarter. instead they put money into gold and oil. facebook's wild night: shares initially dropped 10% on earnings that topped wall street's expectations, then turned around and rallied back with a gain. as lawmakers consider gun laws, the nra reports membership is up a half million
the economy's surprising downturn in the 4th quarter, and why traders are not overly concerned. in today's cover story, name changer at "blackberry." will the corporate makeover help to turn around the company? bulls and bears are at odds over the dow's chances of heading above the critical 14,000 level. plus, the co-ceo of whole foods dishes about hot corporate topics. and, can zombies bring new life to the box office? first business starts now. you're watching first business:...
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Jan 30, 2013
01/13
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FBC
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the economy is contracting. display numbers showing the economy shrank in 2012, was opposed to rise 1.1%. joining us, jeffrey's chief economist. thank you for being with us re. >> if anything, sandy contributed to q4 growth. consumer spending of 2.2% overall. durable goods spending like spending on durable goods like all meals up -- automobiles up. we had pretty good car sales over the fourth quarter. some of that was due to replacement sales of sandy. i don't know what you can look at in this data. dennis: do you believe this number? i was shocked to see an actual decline in gdp, do you think it will be revised upward to a positive? >> it could be revised to a small positive but the best way to look at the second half of last year is to average the third and fourth quarters up 1.5%. we had somewhat inexplicable increase in federal spending, and then in q3. q4 was pulled down by the fact federal government spending was at 8.5%. there is a lot of things temporary practice that attracted q3 and q4. if you look at
the economy is contracting. display numbers showing the economy shrank in 2012, was opposed to rise 1.1%. joining us, jeffrey's chief economist. thank you for being with us re. >> if anything, sandy contributed to q4 growth. consumer spending of 2.2% overall. durable goods spending like spending on durable goods like all meals up -- automobiles up. we had pretty good car sales over the fourth quarter. some of that was due to replacement sales of sandy. i don't know what you can look at in...
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Feb 6, 2013
02/13
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KRCB
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. >> the markets for new cars in many advanced economies are saturated. but there's still room to expand in russia. so i expect much more growth. >> reporter: to cash in on the growing demand in russia for brand name cars, automaker from the u.s., europe, south korea, and japan have expanded to russia. these companiesre also stepping up local production. this factory in vladivostok assembles toyota vehicles. the company is a joint venture between mitsui and company and russian auto maker solis. it plans to make 12,000 units a year. to have set out the plant toyota sent out more than ten engineers to vladivostok at its aichi prefectu faory. local production in the far east has been given a boost with the russian government economic development plan. the far east region has rarely benefited from russia's economic growth. but officials now aim to use foreign investments in the auto sector as leverage. to help local manufacturers grow. to help the far east increase its sales across the country including the strong hold of moscow, the russian government has de
. >> the markets for new cars in many advanced economies are saturated. but there's still room to expand in russia. so i expect much more growth. >> reporter: to cash in on the growing demand in russia for brand name cars, automaker from the u.s., europe, south korea, and japan have expanded to russia. these companiesre also stepping up local production. this factory in vladivostok assembles toyota vehicles. the company is a joint venture between mitsui and company and russian auto...
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Jan 31, 2013
01/13
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FBC
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. david: mercedes-benz has a super bowl surprise this sunday. a new ad for a car that won't even hit the market until fall. the new cla, one the first mercedes sedans priced at less than $30,000. liz: dennis kneale is here with more on mercedes's big pitch. dennis. >> i have a marketing quiz for you. which is the better vehicle for marketing the new cla? the supermodel or the superdome? supermodel, kate upton from the swimsuit cover of "sports illustrated" will grace two mercedes ads running in the super bowl on sunday. one ad has the complicate in a carwash scene. and prudish parents groups are criticizing the ad for objectifying a woman who makes a fortune wearing short shorts and a bikini. or is superdome better than t
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. david: mercedes-benz has a super bowl surprise this sunday. a new ad for a car that won't even hit the market until fall. the new cla, one the first mercedes...
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Jan 31, 2013
01/13
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KGO
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morgan chase and morgan stanley say the economy will rebound after plunging defense spending hurt and the chief economist at middle east analysts say the growing strength in the labor market will light a fire under growth. we will see how the market is this morning. weekly jobless claim numbers were worse-than-expected so still the markets are optimistic and trading higher. the silicon valley index is positive. facebook shares are lower, disappointing investors with the latest earning reports. barbie fans, the first barbie cafe open in taiwan. the hot pink diner features pink tables and sofas and the staff wears pink tutus. how about taking your spouse on a romantic trip open valentine's day? the majority of people who travel say their relationship with their loved one would improve if they went on more trips together. men are more inclined than women to go on a romantic trip, new york and san francisco are among the top choice destinations. >> vacation to san francisco and we would stay. >> women want to watch the super bowl? >> yes. they do. they do. >> now checking with the weather
morgan chase and morgan stanley say the economy will rebound after plunging defense spending hurt and the chief economist at middle east analysts say the growing strength in the labor market will light a fire under growth. we will see how the market is this morning. weekly jobless claim numbers were worse-than-expected so still the markets are optimistic and trading higher. the silicon valley index is positive. facebook shares are lower, disappointing investors with the latest earning reports....
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is not productive economy. this is inflationary bubble. melissa: gohead. >> one thing fix this getting into economic growth scenario we don't have. if you start to tighten up interest rates we're never going to get there. melissa: pete-- >> we'll never get there if we keep interest rates low. melissa: aren't they same amount of stupid, tightening interest rates and raising taxes, both strike me as terrible ideas. >> i don't want to raise taxes. we want to slash government spending. we want to liquidate bad debt. let prices readjust. we need to save, produce, we need to export. we can't keep borrowing money to consume imports. that is how we destroyed our economy. >> our savings is at one of the highest levels in a decade. >> but not economic growth. melissa: peter, you're fantastic i think we drove a lot of people to drink tonight. let's wrap it up. we'll have you all back soon with a cocktail or something. now onto the mandatory budget cuts less than a month away and people are bracing for impact. people in ch
is not productive economy. this is inflationary bubble. melissa: gohead. >> one thing fix this getting into economic growth scenario we don't have. if you start to tighten up interest rates we're never going to get there. melissa: pete-- >> we'll never get there if we keep interest rates low. melissa: aren't they same amount of stupid, tightening interest rates and raising taxes, both strike me as terrible ideas. >> i don't want to raise taxes. we want to slash government...
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Jan 30, 2013
01/13
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KCSMMHZ
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its entire economy could stagnate if major exporters like hyundai lose their competitiveness due to a stronger won and labor disputes. president-elect park kuhn hay will face a difficult time steering the country. sue choi, nhk world, seoul. >>> u.s. defense leaders are expanding their role in the region. they are establishing a presence in niger. pog press secretary george little says al qaeda poses a threat across the region. he says they have not worked out details yet but u.s. media have reported that niger's leaders have given permission for a u.s. drone base in the country. >> this is a very important agreement and working with them to find out precisely what kind of military presence we might have in niger in the future. >> flying toer shares a border with am jeer ya. 37 foreign workers were killed there earlier this month. niger borders mali, where french and other forces are fighting islamist insurgents. the rebels took advantage of a military coup last year to take control of large parts of northern mali. >>> people in another conflict zone are seeing more evidence of the cr
its entire economy could stagnate if major exporters like hyundai lose their competitiveness due to a stronger won and labor disputes. president-elect park kuhn hay will face a difficult time steering the country. sue choi, nhk world, seoul. >>> u.s. defense leaders are expanding their role in the region. they are establishing a presence in niger. pog press secretary george little says al qaeda poses a threat across the region. he says they have not worked out details yet but u.s....
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Jan 30, 2013
01/13
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CNBC
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the economy is still weak. i disagree that the medicine they want to continue to address the weakness is working. i continue to say that if you have structural issues and you apply cyclical-type band-aids you're going to end up with a lot of debt but not a lot of growth. if you look at the next couple of charts, this says it all, i think. we're all trying to dismiss this number. here's real, not nominal, real government consumption expenditures going back to '07 pre-crisis, and you can see that they really ramped up. now, if you go back
the economy is still weak. i disagree that the medicine they want to continue to address the weakness is working. i continue to say that if you have structural issues and you apply cyclical-type band-aids you're going to end up with a lot of debt but not a lot of growth. if you look at the next couple of charts, this says it all, i think. we're all trying to dismiss this number. here's real, not nominal, real government consumption expenditures going back to '07 pre-crisis, and you can see that...
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worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax and spend, it lives on and so does our massive debt. reality check, "varney & company" is about to begin. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. >> first up this wednesday morning, gas prices, yes, they are still on the rise. national average for regular up more than a penny, now at 3.54. just in the past month the price of gas spiked about 25 cents a gallon. the underlying price of oil right now we're down, $95 per barrel. while gas prices are going up, president obama is focused on climate change. at the state of the union next week, the president plans to announce he'll use executi
worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax and spend, it lives on and so does our massive debt. reality check, "varney & company" is about to begin. [ shapiro ] at legalzoom, you can take care of virtually all your imptant...
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a four cylinder from bmw delivers on a promise of good fuel economy and acceleration according to consumer reports. >> in boston, a worker would fell from a construction site survived the fall because of plastic wrap. the worker plunged 30' from this building into mistick -- plastic sheeting. he was tangled in the heavy duty plastic and needed to be cut free despite the padded landing he was taken to the hospital but he is going to be okay. >> next at 6:00, the final step of the 49ers today after returning home from the super bowl in new orleans. >> the golden state versus the lone star state. the war of words with a texas counterpart. >> we are minutes away from the start of a florida hearing for george zimmerman and what he @ññ!ñcúsys of walking to give a breast cancer survivor a lifetime-- that's definitely a fair trade. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful (woman) why walk 60 miles in the boldest breast cancer event in history? because your efforts help komen serve millions of women and men facing breast cancer every year. visit the3day.org to re
a four cylinder from bmw delivers on a promise of good fuel economy and acceleration according to consumer reports. >> in boston, a worker would fell from a construction site survived the fall because of plastic wrap. the worker plunged 30' from this building into mistick -- plastic sheeting. he was tangled in the heavy duty plastic and needed to be cut free despite the padded landing he was taken to the hospital but he is going to be okay. >> next at 6:00, the final step of the...
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Jan 29, 2013
01/13
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CNBC
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no assumption that the economy improves. we can meaningful improve our cash flow and earnings even in an economy that looks like this one. >> you're not expecting any great shakes from the u.s. economy. >> got to create our own bottom line. >> how do you do that? >> made a number of moves over the last five years, most recently making an acquisition in packaging here in north america of one of our competitors and there are huge merger benefits associated with that. realizing the merger ben 2012 twoe 2013 and going on into '14. one of the big drivers and some of the things we're doing around the world in russia, india, south america. >> emerging markets still an important place. >> the cash comes out of america and the growth is in these emerging markets if you have cost position. >> the costs in the u.s. and growth outside. that's what we're continuing to hear. >> sure. >> from a demand story, where is the demand coming from? can you talk about sectors in the u.s. that you see the big ebigest demand and where the weak spots
no assumption that the economy improves. we can meaningful improve our cash flow and earnings even in an economy that looks like this one. >> you're not expecting any great shakes from the u.s. economy. >> got to create our own bottom line. >> how do you do that? >> made a number of moves over the last five years, most recently making an acquisition in packaging here in north america of one of our competitors and there are huge merger benefits associated with that....
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Feb 5, 2013
02/13
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KRON
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one is because the economy is doing well as though the cost of crude oil is ouup. another thing is processes are turning over to the spring/summer blend. that means some of these production is down why they make that switched over. as we get closer to the summer blend we may continue to see prices go up. they may continue go up all the way through april. >>-i knew i should fill up three days ago. >> the good news is that gas will probably be more expensive so fill up today and again be your friend. >> i have no choice, have 2 mi. left. >> the good news is today's gas prices will be cheaper than tomorrows. americans are bombing about 4% of their incomes into buying gasoline. the energy barbets is u.s. households spent an average of just over $2,900 on gasoline last year. that is eyes level and for years. the percentage rates similar levels in 2008, when a red hot global economy and panic over dueling surprising gas prices to the roof. the nationwide average price for gas of regular gas out cast it $3.60 last year also a record high. >> police have released the name
one is because the economy is doing well as though the cost of crude oil is ouup. another thing is processes are turning over to the spring/summer blend. that means some of these production is down why they make that switched over. as we get closer to the summer blend we may continue to see prices go up. they may continue go up all the way through april. >>-i knew i should fill up three days ago. >> the good news is that gas will probably be more expensive so fill up today and again...
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Feb 2, 2013
02/13
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FOXNEWS
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jobs report sends mixed signals about the economy. companies added 157,000 jobs last month stronger than expected. at the same time the unemployment rate ticked up from 7.8 to 7. the%. peter barnes from the fox business network live from washington tonight. 7. not a good number but investors seem bull observe. >> that's right, shep. the dow is just 150 points or so off of its all-time high back in 2007. and today's trading was mainly because of the federal reserve. the fed announced last year that it would keep providing stimulus to the economy until the unemployment rate falls to at least 6.5%. mainly by keeping interest rates low. and as we saw today, the jobless rate headed further from that target. not closer, shep. >> shepard: last year's jobs numbers got a boost today, too. >> that's right. every february, labor department economists update their jobs numbers for the previous year. they spend months drilling down on data from unemployment insurance, which gives them additional information about workers and payroll. so today, the
jobs report sends mixed signals about the economy. companies added 157,000 jobs last month stronger than expected. at the same time the unemployment rate ticked up from 7.8 to 7. the%. peter barnes from the fox business network live from washington tonight. 7. not a good number but investors seem bull observe. >> that's right, shep. the dow is just 150 points or so off of its all-time high back in 2007. and today's trading was mainly because of the federal reserve. the fed announced last...
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why should you be bullish about the economy? take a look at one of the segments as selling well or do so will well. trucks. when gm's sales call. the head of gm's sales was pointing to the strong performance of gm trucks. ford had strong performance as well. you go by truck because you decided you wanted one. you have incentives in december. by in january because you need a truck. your business is expanding. that is good news. a lot of good news. tracy: we will take some positive news on friday that. ashley: my next guest says despite strong sales, there are some concerns about how long the trend last. joining me now, director of automotive research of ags. thank you for being here. there were great numbers. ford, gm, chrysler kamal posting strong gains in sales for the month of january. so strong that it surprised you, perhaps? >> a little bit above our expectations. fifteen. two, were looking at 153-5. ashley: okay. so to his point, he says, people are buying the trucks because they are expanding business. it is a good sign fo
why should you be bullish about the economy? take a look at one of the segments as selling well or do so will well. trucks. when gm's sales call. the head of gm's sales was pointing to the strong performance of gm trucks. ford had strong performance as well. you go by truck because you decided you wanted one. you have incentives in december. by in january because you need a truck. your business is expanding. that is good news. a lot of good news. tracy: we will take some positive news on friday...
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Jan 30, 2013
01/13
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analysts expect the fed to continue its current bond buying program as well as the steps to boost the economy by keeping a federal key interest rate near zero. checking in on our numbers and where we start the day. dow jones pretty good day yesterday after some good economic reports coming in up 72.5 points. s & p also hanging on to that 1500 level. and right now the futures are mixed we'll get a better look as we get close tour the opening bell. >>> also facebook reports after the closing bell today. keep an eye on amazon stock this morning. it jumped more than 9% in premarket trade trading after quarterly products. but revenue was up 22% for the period that includes the holidays. amazon stock up 45% of all of last year. it's up 4% so far this year. >>> time now 5:21. when it comes to the super bowl, you can bet almost anything the most outrageous super bowl bets from beyonces hair to which could end up breaking the law. >>> time now 5:24. facebook will release its fourth quarter evenings after today's closing bell. a lot of analysts are expected to see strong growth. facebook has been focus
analysts expect the fed to continue its current bond buying program as well as the steps to boost the economy by keeping a federal key interest rate near zero. checking in on our numbers and where we start the day. dow jones pretty good day yesterday after some good economic reports coming in up 72.5 points. s & p also hanging on to that 1500 level. and right now the futures are mixed we'll get a better look as we get close tour the opening bell. >>> also facebook reports after the...
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all of 2012 the economy added an average of 181,000 jobs a month. the u.s. manufacturing sector, some good news there, expanding since april. ism manufacturing index since it is known, the number on the screen, 5.1, any indication above 50, that means that there's expansion. the expectation was for contraction. so it was a very good number there, david. we've got mark sebastion to weigh on all of this. david: we do in the pits of the cme. he tells us why there is tremendous opportunity in europe right now. and jeff cleveland breaking down the hidden numbers in today's jobs report. liz: that is the, at the cme, give us how traders, you guys are the experienced ones, the media make a big deal when we hit the round number of 1,000, but what do the traders think? >> you don't see me covered in confetti right now? i thought you would have seen the party. i actually think we may have seen the most exciting day of month of february today. i look out what's ahead of us and i'm looking for a catalyst to really drive the markets. we had big move today of about 1% in t
all of 2012 the economy added an average of 181,000 jobs a month. the u.s. manufacturing sector, some good news there, expanding since april. ism manufacturing index since it is known, the number on the screen, 5.1, any indication above 50, that means that there's expansion. the expectation was for contraction. so it was a very good number there, david. we've got mark sebastion to weigh on all of this. david: we do in the pits of the cme. he tells us why there is tremendous opportunity in...
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Jan 30, 2013
01/13
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our economy is contracting. the economy is shrinking. what a way to start the second term and the president will take the heat with four years into a so-called recovery and failing to uncover real prosperity. now the good, good news on stocks. most people have a piece of a stock market. her money has been on a tear. with housing up as well, maybe middle america will get a wealth effect. "varney & co." about to begin. money. which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritde. stuart: good morning, "varney & co." viewers. big trouble for boeing. in a report from japan says the batteries were a concern months before the first reported fire. in fact they had to replace 10 of them well before the dreamliner was grounded. the main battery experienced an unexpecte
our economy is contracting. the economy is shrinking. what a way to start the second term and the president will take the heat with four years into a so-called recovery and failing to uncover real prosperity. now the good, good news on stocks. most people have a piece of a stock market. her money has been on a tear. with housing up as well, maybe middle america will get a wealth effect. "varney & co." about to begin. money. which would be fine if bob were a vampire. but he's not....
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Jan 30, 2013
01/13
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probably the best way to think about the economy now. you get there by averaging stronger than expected growth in third quarter. what's clear, is this report, think of it as the ghost of christmas future. if you cut back an gov spending, it mathematically approaches. it sets the stage and uncertainty associated with it for better growth in the future. tyler? >> steve, much to think about there. how are defense stocks reacting to the 22% reduction in defense spending by the government in the fourth quarter? jane wells has details in l.a. jane? >> tyler, defense spending down. after reporting descent guidance and returning lots of cash to investors, saying quote i can't recall a time of greater uncertainty. raising guidance but none of the companies are factoring in possibility within extra half trillion in cuts kicking in in march. pentagon spending, as you can see, never 22%. cuts included 43% cuts to ships. 90 percent in weapons support. but look, 64% jump in missile spending. good for lockheed and raytheon. we have an attack inside syr
probably the best way to think about the economy now. you get there by averaging stronger than expected growth in third quarter. what's clear, is this report, think of it as the ghost of christmas future. if you cut back an gov spending, it mathematically approaches. it sets the stage and uncertainty associated with it for better growth in the future. tyler? >> steve, much to think about there. how are defense stocks reacting to the 22% reduction in defense spending by the government in...
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economy, asia in a second. >> it will be an artificial recovery. i suspect after the german election in the fall, the world economy slows down no matter what governments do. cheryl: you're unstop l today. back in 1973, you launched with george sorros, returns amazing at that time. what are you doing now to book big returns? my book is coming out today. >> it's coming out today, read the book, gar goodness sakes, read the book. i invested in currencies, investments in commodities. call them what you will. they print money. when they print money, the way to protect yourself is to own assets. stocks are going through the roof. also, i'm worried about stocks because i know it's artificial. cheryl: talk about emerging markets, living in singapore, china in particular, the growth rates there, they can't sustain 8%. the data we get out of the chinese government you can't trust the currency. i can go on and on and on and on. >> cheryl, i don't trust data from any government, including the u.s.. we know the governments lie to us all the time. you have to re
economy, asia in a second. >> it will be an artificial recovery. i suspect after the german election in the fall, the world economy slows down no matter what governments do. cheryl: you're unstop l today. back in 1973, you launched with george sorros, returns amazing at that time. what are you doing now to book big returns? my book is coming out today. >> it's coming out today, read the book, gar goodness sakes, read the book. i invested in currencies, investments in commodities....
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Jan 31, 2013
01/13
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KPIX
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economy shrank unexpectedly during the fourth quarter of last year. it contracted by a 0.1% partly because of big cuts in defense spending and the impact of superstorm sandy. it's a decline since the recession started but economists see this as a one-time dip. for all of 2012 the economy expanded at more than 2%. >>> asian markets were mostly lower following some disappointing earnings. hong kong's hang seng lost half a percent while tokyo's nikkei bucked the trend adding a quarter percent to add to a 33-month high. worries about a slowdown with wall street after a month of gains. the dow fell 44 points to close at 13,910. the nasdaq also fell 11 points. >>> boeing posted fourth quarter profits yesterday that beat wall street's estimates. the company says it's standing by the batteries it uses for its grounded fleet of dreamliners and has reportedly already replaced more than 100 batteries. boeing also said it will speed up the production of the 787. >>> and good news for twinkie lovers. the golden sponge cake is about to make a comeback. hostess has
economy shrank unexpectedly during the fourth quarter of last year. it contracted by a 0.1% partly because of big cuts in defense spending and the impact of superstorm sandy. it's a decline since the recession started but economists see this as a one-time dip. for all of 2012 the economy expanded at more than 2%. >>> asian markets were mostly lower following some disappointing earnings. hong kong's hang seng lost half a percent while tokyo's nikkei bucked the trend adding a quarter...
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Feb 5, 2013
02/13
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. >>> european markets are up and that's after tensions over the european economy led to a rough trading day. and in the east, hong kong had its worst trading day of the year and checking in on our numbers, our futures indicate a pretty good opening yesterday. downed day as the dow jones industrial average tests that 1400 level and s&p 500 is crossing back and forth at 1,500. markets had their worst day of the year so far. >>> time now for for a new -- for a new battle over marriage, this one divides the entire country. >>> two trucks went into the canal, stay tuned. . >>> well come a back, time now 5:23, a dramatic collision between two trucks, reportedly the driver of the red dodge had a problem and sent both trucks smashing through a chain link fence and they ended up on the edge of the canal. the trucks ended up under a ditch and they did not end up in the water. one driver had minor injuries and the other driver was not hurt at all. >>> well a director is being asked to make a movie about the newtown connecticut shootings. this movie project has upset a lot of people in ridgefield.
. >>> european markets are up and that's after tensions over the european economy led to a rough trading day. and in the east, hong kong had its worst trading day of the year and checking in on our numbers, our futures indicate a pretty good opening yesterday. downed day as the dow jones industrial average tests that 1400 level and s&p 500 is crossing back and forth at 1,500. markets had their worst day of the year so far. >>> time now for for a new -- for a new battle...
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Jan 29, 2013
01/13
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economy going from where we are today and what are the biggesthrea to the recovery? steve liesman fresh here with the results of the exclusive cnbc survey. take it away. >> really interesting results, tyler. i was not expecting this. one of the most important questions we ask month to month, what is the probability of recession in the next 12 months. you can see on the fiscal cliff debate shot up to 36%, came down during the winter and shot back up as we went back into the fiscal cliff and debt ceiling debate. it's come down markedly, 20.4%. that's the low as long as we've been asking this question and one of the big edrops we've seen. it comes in the next line as growth forecasts are rising. this the tail of the tape of the gdp forecast of our panelist. 52 responded this time around. you can see we started in march a year ago here. 2.74%. it's come down, down, down. it just shot up for the first time. not a big jump from 1.9 to 2.08. where are we for 2014, our first look, 2.56 growth a good trend, a number that could bring down the unemployment rate, although by a l
economy going from where we are today and what are the biggesthrea to the recovery? steve liesman fresh here with the results of the exclusive cnbc survey. take it away. >> really interesting results, tyler. i was not expecting this. one of the most important questions we ask month to month, what is the probability of recession in the next 12 months. you can see on the fiscal cliff debate shot up to 36%, came down during the winter and shot back up as we went back into the fiscal cliff...
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Feb 6, 2013
02/13
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>> as far as the fed and the economy? >> far as the economy mostly, yeah. >> you know, i think it's -- i need more information. that's the one thing that the fourth quarter gdp and the recent jobs data has made me realize is that i need more information to know. you know, we had the decline in the fourth quarter gdp of .1%. you know, can be sloughed off because it was the fiscal cliff. we can point to the personal consumption being up 2.2. but we don't know how much of that personal consumption was stolen from the first quarter because of the -- the new schedule for dividends and bonuses that were moved ahead in case there was a tax problem. >> right. >> and the other thing -- this ties in directly to the fed, the nominal gdp in the fourth quarter was 0.5%. that's how we get to that real gdp. we take the deflator of .6 and subtract it from the nominal gdp. the nominal gdp of up .5% is the lowest gdp in a non-recession quarter in the post-war period. and so nominal gdp is the -- the proxy for aggregate demand. bernanke is
>> as far as the fed and the economy? >> far as the economy mostly, yeah. >> you know, i think it's -- i need more information. that's the one thing that the fourth quarter gdp and the recent jobs data has made me realize is that i need more information to know. you know, we had the decline in the fourth quarter gdp of .1%. you know, can be sloughed off because it was the fiscal cliff. we can point to the personal consumption being up 2.2. but we don't know how much of that...
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Jan 31, 2013
01/13
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obviously in the terms of provision of credit to the real economy. and i -- obviously, a large part of all of this is regulation and the speed that that's coming in and the extent that it affects the investment banks more than alltory banks. but if at the end of this process, as you say, all european banks follow the same strategy of being domestically focused retail banks with very little else outside of that, they're not going to be particularly profitable in the long run. >> that doesn't necessarily sound like a euro wide banking union, either. aside from the fact that deutsche has been up a little bit, santander is down and banks are generally weaker across the board. >> first of all, you obviously have capital levels. people are concerned whether the banks have enough capital. secondly, litigation risk and finally, default levels. there is so much focus on we need a banking union, we need unity and oversight. there are two key things missing at the moment, and first of all, that's for the ecb to have authority. there's no banking resolution in p
obviously in the terms of provision of credit to the real economy. and i -- obviously, a large part of all of this is regulation and the speed that that's coming in and the extent that it affects the investment banks more than alltory banks. but if at the end of this process, as you say, all european banks follow the same strategy of being domestically focused retail banks with very little else outside of that, they're not going to be particularly profitable in the long run. >> that...
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Feb 6, 2013
02/13
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FOXNEWSW
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the idea here, jon, is that the economy is pretty fragile. we know from the end of last year when defense cuts took effect it had the effect much dragging down the economy during that last quarter. so the president wants to avoid that. he is saying we can't simply cut our way to growth. we have to have some investments in spending, for education and defense, for example. but he wants the democrats to come up with an alternative to this strong, across the board sequestration cut. jon: chris stirewalt pointed out in his column today that, you know, on foxnews.com, that one-third of the senate is going to be in office after this president leaves office and they are not necessarily ready to jump on board with some of his extremely liberal proposals. >> no. in fact, you know, there are proposals coming from house democrats and senate democrats that have to do with increasing taxes in this alternative proposal to sequestration. increasing taxes on millionaires, oil companies, gas companies, eliminating some of the farm subsidies. these are the kind
the idea here, jon, is that the economy is pretty fragile. we know from the end of last year when defense cuts took effect it had the effect much dragging down the economy during that last quarter. so the president wants to avoid that. he is saying we can't simply cut our way to growth. we have to have some investments in spending, for education and defense, for example. but he wants the democrats to come up with an alternative to this strong, across the board sequestration cut. jon: chris...
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Feb 3, 2013
02/13
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WBAL
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they'll create a much more dynamic economy. and the last week in washington, we've been side tracked off this potential to actually give some growth to our economy by issues of how many links are in the chain we're going to build. what's going to trigger what. does gay marriage affect all of this? it's like this moral i]obtusene. this is our only shot at getting a growing economy. this attempt to win the race for global talent out there, and we are debating socrates. >> it does seem like the politics of this is coming together. robert, you're here. i want to quickly talk about guns in this respect. the president, a picture of him skeet shooting. we know that there had been a kerfuffle, this idea was he really -- the president said yes, he had fired a gun. i do have to ask you, have you seen him skeet shoot? >> i have not. but camp david for him is a private retreat that he spends most of the time with his family. i don't think it's whether or not the president shoots a gun regularly or even if he shoots it well. >> let's partic
they'll create a much more dynamic economy. and the last week in washington, we've been side tracked off this potential to actually give some growth to our economy by issues of how many links are in the chain we're going to build. what's going to trigger what. does gay marriage affect all of this? it's like this moral i]obtusene. this is our only shot at getting a growing economy. this attempt to win the race for global talent out there, and we are debating socrates. >> it does seem like...
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Jan 30, 2013
01/13
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the economy shrinking for the first time in three and a half years. lori: also, betting big on library. research in motion changing its name and unveiling the highly anticipated blackberry 10 device. coming up in minutes. the ceo thorsten heins. melissa: and it turns out japan's two largest airlines have had problems with the dreamliner battery long before the issue. time for stocks as we do every 15 minutes, let's head to the floor of the new york stock exchange. nicole petallides. those gdp numbers keeping the dow away from 14,000. nicole: they certainly did throughout the morning. it brings concern when there is no good gdp numbers. there has been less on defense and concerns, let's take a look now, much like we have seen recently where the dow goes over that one change line over and over again. today seems to be no different as we are back in positive territory. we haven't taken out our highs we saw yesterday, five year highs for the s&p 500, dow jones the thrills, russell 2000. we have had a lot of names and a lot of these indexes hitting these h
the economy shrinking for the first time in three and a half years. lori: also, betting big on library. research in motion changing its name and unveiling the highly anticipated blackberry 10 device. coming up in minutes. the ceo thorsten heins. melissa: and it turns out japan's two largest airlines have had problems with the dreamliner battery long before the issue. time for stocks as we do every 15 minutes, let's head to the floor of the new york stock exchange. nicole petallides. those gdp...
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Jan 30, 2013
01/13
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economy slowing signs of slowing down. the government says the economy sharply contracted in the fourth quarter of 2012 growing at only one tent of tenth. they say it is heading to greece on steroids. what is about this last quarter, steve, what caused the shrinkage. >> wall street is doing great, main street isn't doing so well. this new report suggests that this economy still has not really fully recovered from the financial crisis four years ago, in fact the thing that is really disturbing here, jon is the economy has been slowing down over the last six months or so. it's not gaining momentum as you would expect. and so the numbers are just very troubling. the biggest decline, by the way, was in defense spending. the private sector gdp was up a bit, not much about 1.5%. jon: a lot of people who constantly look to cut the defense budget, cut defense spending, chop out this program or that program, this is a cautionary tale. >> look i actually think cutting government spending is good for the economy because it frees up r
economy slowing signs of slowing down. the government says the economy sharply contracted in the fourth quarter of 2012 growing at only one tent of tenth. they say it is heading to greece on steroids. what is about this last quarter, steve, what caused the shrinkage. >> wall street is doing great, main street isn't doing so well. this new report suggests that this economy still has not really fully recovered from the financial crisis four years ago, in fact the thing that is really...
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Jan 30, 2013
01/13
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money goes straight to the real economy. because you miss out on the money multiplier, you have to do so much of it. that's why the central bank balance sheets have ballooned. >> the fed will wrap up its two-day policy meeting with a decision due at 2:15 eastern. the fomc will stay the course, renewing its pledge to keep rates at historic lows until unemployment drops and maintaining its bond buying at $85 billion a month. there are new voters on the panel at this meeting. kansas city fed president esser george is viewed as a hawk. and boston will lead in thresholds, seeing the fed go even further. the u.s. economy likely grew at the lowest pace in nearly two years during the fourth quarter. that's according to estimates for the advanced gdp report. that's also due today around 8:30 a.m. eastern. reuters' analysts expect gdp to grow 1.1% annually. that can't be right. down sharply from 3.1% growth in the third quarter. the reason i wonder if the estimates are the latest is that after the stretch of data from the past week, s
money goes straight to the real economy. because you miss out on the money multiplier, you have to do so much of it. that's why the central bank balance sheets have ballooned. >> the fed will wrap up its two-day policy meeting with a decision due at 2:15 eastern. the fomc will stay the course, renewing its pledge to keep rates at historic lows until unemployment drops and maintaining its bond buying at $85 billion a month. there are new voters on the panel at this meeting. kansas city fed...
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Feb 5, 2013
02/13
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KRON
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one was because the economy is good set they will drive the price at high. the basic thing is that the spring and winter blend is coming so refineries were shut down. they will switch over to that summer blend. it is more expensive and we could see prices increasing starting in april. officials are hoping a new *private bus stop at van ness and union street will help ease traffic during commute hours. the stop is for private shuttles offering service to companies like google, apple, and genentech. this will be the second bus stop of its kind in the city. there is already one near 8th and market streets. muni is hoping stops like these will keep private commuter shuttles from blocking muni busses during the commute. >> police have released the name of the teenage girl who was found dead in a fairfield park last week. but investigators are still trying to figure out who killed her and why. 13-year-old genelle conway's body was discovered friday morning at alan witt park. family members say the teenage girl was strangled, but police, who've been investigating t
one was because the economy is good set they will drive the price at high. the basic thing is that the spring and winter blend is coming so refineries were shut down. they will switch over to that summer blend. it is more expensive and we could see prices increasing starting in april. officials are hoping a new *private bus stop at van ness and union street will help ease traffic during commute hours. the stop is for private shuttles offering service to companies like google, apple, and...